Research Article
Evaluation and Influence of Chinese Enterprises' Financial Efficiency Based on the Malmquist Index
Table 5
Regression results of influencing factors on financial efficiency based on the spatial Durbin model.
| | | Coef. | Std. err. | | >|| | (95% conf. interval) |
| Min | | 0.0448 | 0.1434 | 0.31 | 0.754 | −0.2361 | 0.3258 | | 0.0006 | 0.0003 | 18.78 | 0.000 | 0.0005 | 0.0006 | | −0.2393 | 0.2388 | −1.00 | 0.316 | −0.7074 | 0.2287 | | 0.3143 | 0.0782 | 4.01 | 0.000 | 0.1608 | 0.4677 | | −0.1638 | 0.1015 | −1.61 | 0.107 | −0.3628 | 0.0352 | | −0.1348 | 0.0885 | −1.52 | 0.128 | −0.3083 | 0.0386 | | −0.3375 | 0.1092 | −3.09 | 0.002 | −0.5517 | −0.1234 | Wx | | −2.4826 | 0.4758 | −5.22 | 0.000 | −3.4151 | −1.5499 | | 0.0001 | 0.0002 | 0.78 | 0.438 | −0.0002 | 0.0004 | | 3.6954 | 0.6307 | 5.86 | 0.000 | 2.4592 | 4.9316 | | −0.7251 | 0.2087 | −3.47 | 0.001 | −1.1341 | −0.3161 | | −0.0534 | 0.6730 | −0.08 | 0.937 | −1.3725 | 1.2657 | | 0.0064 | 0.1529 | 0.04 | 0.967 | −0.2933 | 0.3061 | | 0.9787 | 0.1991 | 4.91 | 0000 | 0.5884 | 1.3689 | Spatial | rho | −0.2604 | 0.1761 | −1.48 | 0.139 | −0.6056 | 0.0848 | Variance | sigma2_e | 0.1128 | 0.0081 | 13.94 | 0.000 | 0.0969 | 0.1286 | LR_Direct | | 0.0803 | 0.1491 | 0.54 | 0.590 | −0.2119 | 0.3725 | | 0.0006 | 0.0003 | 18.99 | 0.000 | 0.0005 | 0.0006 | | −0.2693 | 0.2404 | −1.12 | 0.263 | −0.7405 | 0.2019 | | 0.3227 | 0.0764 | 4.22 | 0.000 | 0.1730 | 0.4724 | | −0.1655∗ | 0.0957 | −1.73 | 0.084 | −0.3530 | 0.0221 | | −0.1352 | 0.0859 | −1.57 | 0.116 | −0.3037 | 0.0334 | | −0.3514 | 0.1122 | −3.13 | 0.002 | −0.5713 | −0.1316 | LR_Indirect | | −2.0160 | 0.3406 | −5.92 | 0.000 | −2.6837 | −1.3483 | | −0.0000 | 0.0001 | 0.20 | 0.845 | −0.0002 | 0.0002 | | 3.0108 | 0.4361 | 6.90 | 0.000 | 2.1559 | 3.8656 | | −0.6472 | 0.1773 | −3.65 | 0.000 | −0.9948 | −0.2997 | | −0.0087 | 0.5402 | −0.02 | 0.987 | −1.0676 | 1.0501 | | 0.0260 | 0.1312 | 0.20 | 0.843 | −0.2312 | 0.2833 | | 0.8655 | 0.1722 | 5.02 | 0.000 | 0.5278 | 1.2032 | LR_Total | | −1.9357 | 0.3152 | −6.14 | 0.000 | −2.5536 | −1.3177 | | 0.0006 | 0.0009 | 5.99 | 0.000 | 0.0004 | 0.0007 | | 2.7415 | 0.3556 | 7.71 | 0.000 | 2.0444 | 3.4385 | | −0.3245 | 0.1552 | −2.09 | 0.037 | −0.6287 | −0.0203 | | −0.1742 | 0.5552 | −0.31 | 0.754 | −1.2624 | 0.9140 | | −0.1092 | 0.1043 | −1.05 | 0.295 | −0.3136 | 0.0953 | | 0.5141 | 0.1312 | 3.92 | 0.000 | 0.2568 | 0.7714 |
|
|
Note. The data with , , and in the table indicate, respectively, < 0.10, < 0.05, and < 0.01. |